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Entertainment Record IPO: Ant Group wants to raise $ 34 billion

17:10  26 october  2020
17:10  26 october  2020 Source:   pressfrom.com

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Introduction en Bourse record : Ant Group veut lever 34 milliards de dollars © Pixabay Record IPO: Ant Group wants to raise $ 34 billion The owner of online payment giant Alipay, whose securities will be listed from on November 5, plans to raise at least $ 34 billion when it goes public. Which would make this the most important IPO in history.

Ant Group plans to raise a record sum of over $ 34 billion in a dual IPO in Hong Kong and Shanghai, the company said on Monday (October 26th). A week after formalizing the Chinese regulator's agreement to list in Hong Kong, Alibaba's financial subsidiary detailed the price of its initial public offer (IPO) . The group of Chinese billionaire Jack Ma plans to sell from Tuesday on the place of Hong Kong 1.67 billion shares at 80 Hong Kong dollars each. In Shanghai, Ant will sell 1.67 billion shares as well, at 68.80 yuan. In total, the operation therefore exceeds 34 billion dollars (28.7 billion euros). It could be close to the 40 billion dollars if the over-allotment options are exercised. The securities will be listed from November 5.

BTS Label Big Hit Valued at $4 Billion After Pricing IPO at Top of Range

  BTS Label Big Hit Valued at $4 Billion After Pricing IPO at Top of Range Big Hit Entertainment, the label behind K-pop superstars BTS, has priced its initial public offering (IPO) at the top of its target range, on track for its goal to go public by the end of the year. The K-pop powerhouse is issuing shares at 135,000 won ($115) each, the company said in a filing with the Korean Exchange on Monday (Sept. 28), the top end of the 105,000 to 135,000 won per share range the company previously announced. Big Hit will raise 962.6 billion won (roughly $820 million) through the offering, which values the company at 4.8 trillion won ($4.1 billion).

As a reminder, the world record for an IPO is currently $ 29.4 billion, won by the Saudi oil giant Aramco on the Riyadh Stock Exchange in 2019.

>> To read - Alibaba: le online payment giant Ant (Alipay) to record IPO

Ant Group claims more than 700 million monthly active users of its Alipay system and an annual transaction volume exceeding 118 trillion yuan (14.4 trillion euros ) in mainland China. Its main competitor in the country is the Chinese internet giant Tencent, with its WeChat Pay platform.

>> Read also - Alibaba breaks the ceiling thanks to the IPO of Ant (Alipay)

How IPOs by Chinese companies like Ant Financial affect the rate of the Hong Kong dollar .
The demand for the Hong Kong dollar, which is loosely pegged to the US dollar, is currently increasing, so Hong Kong's monetary authority has to intervene regularly. The currency of the Chinese special administrative region could also benefit from the special position of the Hong Kong stock exchange - and companies like Ant Financial that are planning to go public on it. © Provided by Finance.net SAEED KHAN / AFP / Getty Images • Demand for Hong Kong dollars is rising • Investors show interest

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